Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla has announced a plan to launch 3 international tenders for research and exploration this year and drill more than 300 exploration wells by 2025.
The Minister said this in his speech at the sixth session of the Egyptian International Petroleum Exhibition and Conference “EGYPS 2023”, which started today, Sunday, in Cairo.
El Molla stated that “Egypt’s oil exports have risen over the past year to reach $18.2 billion, and Egypt has achieved an oil surplus of over $3 billion for the third year in a row.”
And he continued: “With regard to the field of research and exploration, since its launch in 2021, 4 international tenders have been launched on the platform of the Egyptian Digital Exploration and Production Portal, and 3 international tenders are planned to be launched in the current year, and an ambitious plan until 2025 to dig more.” Of the 300 exploratory wells, Egypt is aiming to quickly bring them into production.
The Minister explained that the oil sector has succeeded in developing its infrastructure over the past eight years, increasing the number of ports and berths to receive butane gas tankers, adding 79 warehouses for storing crude oil and petroleum products, as well as a number of main gas lines to provide the national gas network, as well as the implementation of 8 new projects in the field of gas Oil refining.
The Minister stated that “in continuation of the development of the EGYPS conference as a more comprehensive platform for energy solutions”, the conference will allow, starting from the next session, to expand the scope of its topics to include energy transition, emission reduction and hydrogen in order to keep up with the rapid global changes in energy issues.
Source: The Seventh Day